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FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL PROVINCE INVESTOR PRESENTATION March 2019 ASX:AZY

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Page 1: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

FIRST MOVER ADVANTAGE IN AWORLD CLASS MINERAL PROVINCE

INVESTOR PRESENTATION March 2019

ASX:AZY

Page 2: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

2 ASX:AZY

Nature of this document: The purpose of this document is to provide general information about Antipa

Minerals Limited (the ‘Company’). Unless otherwise stated herein, the information in this document is based

on the Company’s own information and estimates. In viewing this document you agree to be bound by the

following terms and conditions.

Not an offer: This document is for information purposes only and does not constitute or form any part of any

offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in

the Company in any jurisdiction, including the United States. This document and its contents must not be

distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or

viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

In particular, this document is not for release to US newswire services or distribution in the United States.

This document is not considered a recommendation by the Company or any of its affiliates, directors or

officers that any recipient invest in the Company nor does it constitute investment, accounting, financial, legal

or tax advice.

Not financial product advice: This document does not take into account the individual investment

objectives, financial situation and particular needs of each of the Company’s Shareholders. You may wish

to seek independent financial and taxation advice before making any decision in respect of thisdocument.

Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in

respect of the Company’s securities or any other financialproducts.

Forward looking statements: Certain statements contained in this presentation, including information as

to the future financial or operating performance of the Company and its projects, are forward looking

statements. Such forward looking statements: (a) are necessarily based upon a number of estimates and

assumptions that, while considered reasonable by the Company, are inherently subject tosignificant

technical, business, economic, competitive, political and social uncertainties and contingencies; (b) involve

known and unknown risks and uncertainties that could cause actual events or results to differ materially from

estimated or anticipated events or results reflected in such forward looking statements; and (c) may include,

among other things, statements regarding estimates and assumptions in respect of prices, costs, results and

capital expenditure, and are or may be based on assumptions and estimates related to future technical,

economic, market, political, social and otherconditions.

The Company disclaims any intent or obligation to publicly update any forward looking statements, whether

as a result of new information, future events or results or otherwise. The words “believe”, “expect”,

“anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”,

“will”, “schedule” and similar expressions identify forward looking statements. All forward looking statements

contained in this Presentation are qualified by the foregoing cautionary statements. Recipients are cautioned

that forward looking statements are not guarantees of future performance and accordingly recipients are

cautioned not to put undue reliance on forward looking statements due to the inherent uncertainty therein.

Disclaimer: No representation or warranty, express or implied, is made by the Company that the material

contained in this document will be achieved or prove to be correct. Except for statutory liability which cannot

be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly

disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained

in this document, or any opinions or beliefs contained in this document, and excludes all liability whatsoever

(including in negligence) for any loss or damage which may be suffered by any person as a consequence of

any information in this document or any error or omission there from. The Company is under no obligation to

update or keep current the information contained in this document or to correct any inaccuracy or omission

which may become apparent, or to furnish any person with any further information, unless required to do

so by law. Any opinions expressed in the document are subject to change without notice. Recipients of this

document should make their own, independent investigation and assessment of the Company its business,

assets and liabilities, prospects and profits and losses, as well as the matters covered in this document.

Independent expert advice should be sought before any decision based on an assessment of the Company

is made.

Unverified information: This document may contain information (including information derived from publicly

available sources) that has not been independently verified by theCompany.

Cautionary note regarding reserves and resources: You should be aware that as an Australian company

with securities listed on the ASX, the Company is required to report reserves and resources in accordance

with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves

(JORC Code, 2012 Edition). You should note that while the Company’s reserve and resource estimates

comply with the JORC Code, they may not comply with the relevant guidelines in other countries and, in

particular, do not comply with Industry Guide 7, which governs disclosures of mineral reserves in registration

statements filed with the US Securities and Exchange Commission. Information contained in this

presentation describing the Company’s mineral deposits may not be comparable to similar information

made public by companies subject to the reporting and disclosure requirements of USsecurities laws. In

particular, Industry Guide 7 does not recognise classifications other than proven and probable reserves and,

as a result, the SEC generally does not permit mining companies to disclose their mineral resources in SEC

filings. You should not assume that quantities reported as “resources” will be converted to reserves under the

JORC Code or any other reporting regime or that the Company will be able to legally and economically

extract them.

Competent Persons Statement – Exploration Results: Please refer to the detailed statement at the end of

this document.

Competent Persons Statement – Mineral Resource Estimations for the Minyari-WACA Deposits, Calibre

Deposit and Magnum Deposit: Please refer to detailed statement at end of this document.

Australian Dollars: All figures in Australian Dollars unless statedotherwise.

IMPORTANT NOTICE/ DISCLAIMER

2 ASX:AZY

Page 3: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

3

COMPELLING INVESTMENT OPPORTUNITY

Advancing world class development and exploration projects

ASX:AZY1. All references to ‘Rio Tinto’ in this document are to Rio Tinto Exploration Pty Ltd, a wholly owned subsidiary of Rio

TintoLimited

Strategic Position in World Class Paterson Province

• Underexplored precious and base metals province hosting two large scale

producing mines

• Significant greenfield exploration upside with 5,500km2 tenement holding

extending to within 5km of the recent Rio Tinto Winu discovery

• Hosts the Telfer and Nifty mines

100% owned North Telfer Project

• Significant exploration upside to current shallow high-grade combined Mineral

Resources:

o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm

• Positioning for development

$60M Rio Tinto1 Joint Venture on the Citadel Project

• 1,330km2 Antipa/Rio Tinto joint venture with existing combined Mineral

Resource:

o 1.64Moz gold at 0.8 g/t and 128kt copper at 0.20%

Page 4: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

DUAL TRACK STRATEGY: TIER-1 DISCOVERIES & RESOURCE DEVELOPMENT

Commencement of 2019 exploration programme to underpin strong news flow outlook

Greenfields Exploration

5,500km2 under-explored world class exploration ground

• Fully funded regional drilling campaign on 100% owned ground to start in April

• Aerial Electromagnetic (AEM) survey completed over the El Paso Corridor targeting TelferandWinu analogue targets

o Drill testing of 9 high priority AEM targets in 1H-2019, up to 23 targets in total

• Aeromagnetic survey completed targeting Havieron gold-copper deposit analogue magneticanomalies

o Drill testing of high priority aeromagnetic targets in 2H-2019

Resource Development

100% owned, shallow, high-grade resource located c.40km from Telfer Mine

• Resources of 723koz Au at 2.0g/t, 26kt Cu at 0.24%, 4kt Co at 380ppm - update due 1H-2019

• Prospective brownfield prospects including Judes, Chicken Ranch, Tim’s Dome and MinyariSouth

• High priority resource growth targets (Pajero, Triangle & Turkey Farm) to be evaluated during2019

Rio Tinto Citadel JVRio Tinto to spend up to $60M in exploration expenditure for up to 75%

interest

• 600km2 AEM survey complete and Rio Tinto sole funded 2019 exploration programme beingfinalised

4 ASX:AZY

Page 5: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

5 ASX:AZY

FIRST MOVER ADVANTAGE IN THE WORLD CLASS PATERSON PROVINCE

1 Refer Greatland Gold plc’s website (https://greatlandgold.com/) and London Stock Exchange (AIM: GGP) news releases (https://www.londonstockexchange.com/home/homepage.htm)

2 Refer Rio Tinto (https://www.riotinto.com/) and Australian Stock Exchange (ASX: RIO) news releases (https://www.asx.com.au/)

Host to world class mineral deposits• Proven precious and base metals province hosting two large scale producing mines

o Telfer = 32Moz gold, 1Mt copper pre-mining

o Nifty = 2Mt copper pre-mining

• Recent discoveries include

o Greatland’s Havieron = 275m at 4.8g/t Au and 0.6% Cu (HAD005 from 459m down

hole)1

o Rio Tinto’s Winu = 60m at 1.22g/t Au and 1.03% Cu (WIDI0007 from 60m down

hole)2 and 741m at 0.5g/t Au and 0.45% Cu (WINU0006 from 68m down hole)2

Shallow cover and lack of prior exploration• Province under-explored despite world class credentials

• No modern exploration, last greenfields campaign over 30 years ago

• Telfer and Nifty were both outcropping deposits (discovered in 1972 and 1980)

• First mover advantage means Antipa has secured the best ground – thin cover and

structural prospectivity

Modern geophysical techniques can ‘see through’ cover• Ability to explore for blind deposits significantly improved due to advancements in

modern geophysical technologies

• AEM and aeromagnetic surveys have recently led to several significant Paterson

Province discoveries including Winu, Havieron, Magnum, Calibre, Corker,

O’Callaghans, etc

Coastline

c.50% of Antipa tenements are under less than 20m cover

c.80% of Antipa tenements are under less than 80m cover

Page 6: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

HIGHLY PROSPECTIVE STRUCTURAL CORRIDOR GREENFIELD EXPLORATION

Geological Overview

• Antipa’s 100% ground hosts a significant strike extent of the highly prospective El Paso Structural Corridor

• The El Paso Structural Corridor hosts multiple felsic (granitic) intrusions, mineral deposits, prospects and

targets:

o Hosts Minyari-WACA resources and several other significant deposits including Rio Tinto’s Winu

and Greatland Gold’s Havieron discoveries

o Extends 105km on 100% Antipa ground and 45km on Rio Tinto Citadel JV

o Limited existing electrical geophysics (i.e. EM or IP) prior to Antipa acquiring

• Provides an ore forming environment similar to porphyry copper-gold belts

• Structural corridors provide the conduits and mechanism for the movement of mineralised fluids related to

associated granites

ASX:AZY6

2019 Exploration Overview

• AEM and aeromagnetic surveys completed and 29 targets currently identified

• Aggressive drill campaign planned to systematically test targets

o Strong newsflow outlook following commencement of drilling in April

• Additional AEM and aeromagnetic surveys planned to generate further targets or re-rank existing targets

by prospectivity

Page 7: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

AEM SURVEY GOLD-COPPER TARGETS

Proposed Phase 1 AEM Drilling Programme (1H-2019)

• Up to 20,000m air core and slim-line RC drilling programme commencing April

• Drill test up to 23 of the 2018 AEM targets (EM Conductivity anomalies):

o 9 x Red Priority 1 targets; and

o 14 x Yellow Priority 2 targets

• Large proportion of AEM anomalies are within the El Paso Corridor

• Estimated shallow cover based on existing drilling – 5m to 70m (average 40m)

• Ongoing review of results in conjunction with other data to generate further targets or re-rank existing

targets by prospectivity

ASX:AZY7

Overview

• 1,100km2 AEM survey completed over 100% Antipa Projects in 2H-2018

o 9 high priority copper-gold targets identified (23 in total)

• AEM responsible for multiple discoveries over the last 10 years including Winu, Magnum, Corker, etc

• Conductors can represent sulphides related to gold and/or copper mineralisation

• Field reconnaissance and heritage survey completed across priority 1 and priority 2 targets

GREENFIELD EXPLORATION

Page 8: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

AEROMAGNETIC SURVEY GOLD-COPPER TARGETS

Proposed Phase 2 Exploration Drilling Programme (2H-2019)

Drill testing of high priority aeromagnetic targets

• Phase 1 AEM target follow-up drilling

• Further aerial electromagnetic surveys:

o AEM coverage over southern region of El Paso Structural Corridor between

Minyari and Havieron

• Further aeromagnetic surveys

ASX:AZY8

Overview

• 260km2 aeromagnetic survey completed in December 2018 over 100%

Antipa ground targeting Havieron gold-copper deposit lookalike magnetic

anomalies

o 4 high priority copper-gold targets identified

o Triangle area key structures identified

o Drill targets located 8km north of Rio Tinto’s Winu discovery further

refined

• Aeromagnetics responsible for multiple discoveries in the region (e.g. Havieronand Calibre)

GREENFIELD EXPLORATION

Page 9: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

MINYARI DOME

Established High-Grade Resource

NORTH TELFER RESOURCE DEVELOPMENT

2019 Exploration Programme• Evaluation of historic data has identified several brownfield prospects (including Triangle,

Pajero and Turkey Farm) with potential to deliver additional shallow “satellite” high-grade gold

resources

o Historical drilling indicates significant gold ± copper mineralisation

o Turkey Farm to be drill tested in 1H-2019

• Additional geophysical surveys at Judes and Minyari South to map sulphide mineralisation,

refining follow-up drill targets

ASX:AZY9

Overview

• Mineral Resources of 11Mt at 2.0 g/t Au, 0.24% Cu, 380ppm Co and 0.7 g/t Ag for

723koz Au, 26kt Cu, 4kt Co and 233koz Ag (includes Minyari and WACA)

o Resource update to include Chicken Ranch and Tim’s Dome due in 1H-2019

• Minyari and WACA resources remain open down dip and along strike

• 2018 drilling near existing high-grade Minyari-WACA resources revealed significant new

mineralisation at Minyari South and Judes

o Minyari South located 300m south of the Minyari deposit

▪ 18.0m at 3.05 g/t Au, 0.32% Cu and 0.05% Co from 47m

▪ Strike length of 100m and open in all directions

o Judes located 1.6km northwest of the Minyari deposit

▪ 45.0m at 0.56% Cu, 0.10 g/t Au and 2.21 g/t Ag from 72m; including 10.0m at

2.05% Cu, 0.19 g/t Au and 9.11 g/t Ag from 106m

▪ Jude’s strike length 150m and open in all directions

Page 10: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

HIGHLY PROSPECTIVE BROWNFIELD TARGETS

Turkey Farm

1km west of Chicken Ranch with gold nuggets identified within

surface laterite

• Historic broad spaced (200m) drill intersections along 750m strike include:

o 7.0m at 2.40 g/t Au from 65m, including 3.0m at 5.07 g/t Au from 65m and 1.0m

at 12.10 g/t Au from 65m

• Heritage survey completed in preparation for maiden drilling in 1H-2019

Triangle Area

Aeromagnetic survey recently completed to refine drill targets at

Triangle Dome located approximately mid-way between Telfer and

Havieron

• Mineralisation hosted within Telfer deposit rock formation along 6km strike

• Historical drilling highlights include:

o 12.0m at 2.02 g/t Au from 4m, including 2.0m at 10.57 g/t Au from 10m

o 50.0m at 0.91 g/t Au from 8m, including 10.0m at 3.58 g/t Au from 8m

Pajero Area

1km southwest from Chicken Ranch on the Camp Dome, host of

Newcrest’s 17 Mile Hill copper resource

• Four zones of significant gold ± copper mineralisation (Big Banana, Pajero, Wobbley’sGossan and Teriyaki)

• Historical drilling highlights include:

o 20.0m at 3.50 g/t Au from 13m, including 4.0m at 12.0 g/t Au from 13m

Potential forAdditional

Shallow (Oxide) Gold

Resources

ASX:AZY10

NORTH TELFER RESOURCE DEVELOPMENT

Page 11: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

CHICKEN RANCH AND TIM’S DOME

Chicken Ranch

High-grade gold mineralisation along a 3km strike length within four or

more parallel mineralised gold trends

• 2018 drilling confirmed shallow high-grade resource opportunity and continuedexploration potential 25km from Minyari-WACA

• Exceptional exploration upside with multiple un-tested mineralised trends displayingsignificant strike extent (i.e. 500 to +1,000m)

o Primary mineralisation remains untested at depth

Tim’s Dome

Shallow gold ± copper mineralisation 12km along strike of the giant

Telfer mine

• Re-emergence of Telfer Dome structures and Telfer mine host sequence

• Up to 200m wide gold bearing corridor over 3km long (within broader 8km trend)

Next Steps

Delivery of maiden Mineral Resources in 1H-2019

• Additional geophysical surveying to further refine targets along strike

ASX:AZY11

NORTH TELFER RESOURCE DEVELOPMENT

Chicken Ranch and Turkey Farm Plan View

Tim’s Dome Interpreted Long Section

Page 12: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

RIO TINTO CITADEL JOINT VENTURE RIO TINTO CITADEL JV

Calibre Deposit (Gold, Copper, Silver, Tungsten)

• Large deposit with 1.5km of defined strike - resource open in most directions

• Inferred Mineral Resource 47.7 Mt at 0.85 g/t Au, 0.15% Cu and 0.48 g/t Ag for 1.3Moz

Au, 70kt Cu and 730kozAg

• RC drill testing in 2017 of large IP target area south of resource returned:

o 214m at 0.34 g/t Au and 0.07% Cu, incl. 44m at 0.70 g/t Au and 0.13% Cu

Magnum Deposit (Gold, Copper, Silver ± Tungsten)

• Large scale mineral system less than 2km from Calibre

• Inferred Mineral Resource 16.1 Mt at 0.66 g/t Au, 0.36% Cu and 0.99 g/t Ag for 339koz

Au, 58kt Cu and 511kozAg

• Resource remains open in most directions

Next Steps

• 600km2 AEM survey complete and results pending

• Ongoing evaluation of exploration opportunities across the broader Citadel Project area,

including the Calibre resource extensional targets

• 2019 exploration programme being finalised - to be announced in due course

ASX:AZY12

Overview

• Rio Tinto can earn up to 75% by spending up to $60M

• Citadel Project 5km east of Rio Tinto’s Winu discovery

Page 13: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

EXPLORATION TIMELINEAGGRESSIVE GREENFIELDS AND BROWNFIELDS

EXPLORATION PROGRAMME

13

DECEMBER 2018 QUARTER MARCH 2019 QUARTER JUNE 2019 QUARTER

Greenfields Exploration –

incl. El Paso Corridor Targets

Citadel Project

(Rio Tinto Farm-in)

Project Evaluation Activities

Minyari / WACA

Chicken Ranch / Turkey Farm

Tim’s Dome

Note: Timing, details and scope of all drilling and exploration programmes may change and are dependant upon exploration results, field conditions, exploration licence conditions and ongoing review

Mineral Resource Estimates and Mining Studies1

AEM Data Processing to assist 2019 Exploration Programme Planning and Evaluation

of Opportunities including the Calibre Resource Extensional Targets

Aerial EM Target Planning (including

Heritage Survey) and Aeromagnetic

Survey

RC Drilling

Programme at

Folly

Additional AEM

Survey

IP Survey

Turkey Farm Prospect Drill Planning

and Execution

Follow-Up Drill and Geophysical Survey

(IP) Planning; Evaluation of Brownfields

targets (Triangle Area and Pajero)

RC Drilling and Evaluation of Results

Follow-up RC Drilling and Evaluation of

Results and Heritage Survey

Follow-up RC Drilling and Evaluation of

Results

Three additional Heritage Surveys, Followed by Air-core ± RC Drill

Testing of

High Priority AEM and Aeromagnetic Targets

ASX:AZY

Page 14: FIRST MOVER ADVANTAGE IN A WORLD CLASS MINERAL …o 723koz gold at 2.0g/t, 26kt copper at 0.24% and 4kt cobalt at 380 ppm • Positioning for development $60M Rio Tinto1 Joint Venture

CORPORATE SNAPSHOT – ASX: AZY

BOARD OF DIRECTORS CAPITAL BREAKDOWN

Stephen PowerExecutiveChairman

(Lawyer)

• 33 years’ industry experience

• Extensive legal, commercial and corporate management experience

• Former external legal advisor to LionOre Mining International

Roger MasonManagingDirector

(Geologist)

• 33 years’ industry experience

• Involved in projects across multiple jurisdictions, project stage and commodities

• Former General Manager Geology for LionOre Australia and Norilsk Nickel

Mark RoddaNon-Executive Director

(Lawyer)

• 22 years’ industry experience

• Extensive legal, commercial and corporate management experience

• Director of Lepidico, former Chairman of Coalspur Mines, and former General Counsel of

LionOre Mining International

Peter BuckNon-Executive Director

(Geologist)

• 42 years’ industry experience

• International exploration, acquisition and production experience

• Current Director of Independence Group: Previously held roles as Director of PMI Gold, Gallery

Gold, LionOre Australia and Breakaway Resources

Gary JohnsonNon-Executive Director

(Metallurgist)

• 37 years’ industry experience

• Plant design, project development and operations experience

• Chairman of Lepidico, Director of Strategic Metallurgy and former Director of LionOre’s Tati Nickel

CORPORATE

CAPITAL STRUCTURE

1,807m $50.6mShares on Issue (undiluted) Market Cap at A$0.028/sh

$3.9mCash as at Dec 18 Qtr

$46.7mEnterprise Value

151mOptions1

N/ADebt as at Dec 18 Qtr

1. Options have an average exercise price of $0.035 and would raise $5.3m if exercised

14

7.1%5.2%

87.7%

Directors and Management

Institutions (as at 9 Jan 2019)

Retail

ASX:AZY

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CONTACT

Executive Chairman

Mr Stephen Power

E: [email protected]

ANTIPAMINERALS.COM.AU

Managing Director

Mr Roger Mason

E: [email protected]

Corporate Office

Level 2, 16 Ord Street

West Perth WA 6005

Australia

PO Box 795

West Perth WA 6872

T: +61 8 9481 1103

F: +61 8 9481 0117

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*0.5 Au = Using a 0.5 g/t gold cut-off grade above the 50mRL (NB: potential “Open Cut” cut-off grade)

*1.7 Au = Using a 1.7 g/t gold cut-off grade below the 50mRL (NB: potential “Underground” cut-off grade)

**0.5 AuEquiv = Refer to details provided by the Notessection

APPENDIX

16

Deposit and Gold

Cut-off Grade*

Resource

Category

Tonnes

(Mt)

Gold Grade

(g/t)

Copper Grade

(%)

Silver Grade

(g/t)

Cobalt

(ppm)

Gold

(oz)

Copper

(t)

Silver

(oz)

Cobalt

(t)

Minyari 0.5 Au Indicated 3.2 1.9 0.3 0.7 590 192,610 9,600 75,660 1,860

Minyari 0.5 Au Inferred 0.7 1.7 0.24 0.6 340 36,260 1,560 13,510 220

Minyari 0.5 Au Sub-Total 3.8 1.9 0.29 0.7 550 228,870 11,160 89,170 2,080

Minyari 1.7 Au Indicated 0.2 2.6 0.29 0.9 430 18,740 650 6,800 100

Minyari 1.7 Au Inferred 3.7 2.6 0.3 1 370 303,000 10,950 117,550 1,360

Minyari 1.7 Au Sub-Total 3.9 2.6 0.3 1 380 321,740 11,600 124,350 1,460

Minyari Total 7.7 2.2 0.3 0.9 460 550,610 22,760 213,520 3,540

WACA 0.5Au Inferred 2.8 1.4 0.11 0.2 180 121,950 3,120 15,920 500

WACA 1.7Au Inferred 0.5 2.9 0.09 0.2 230 50,780 510 3,850 120

WACA Total 3.3 1.6 0.11 0.2 190 172,730 3,630 19,770 620

Minyari +

WACA DepositsGrand Total 11 2 0.24 0.7 380 723,340 26,390 233,290 4,060

Deposit and Gold

Cut-off Grade**

Resource

Category

Tonnes

(Mt)

Gold Grade

(g/t)

Copper Grade

(%)

Silver Grade

(g/t)

Tungsten

(ppm)

Gold

(oz)

Copper

(t)

Silver

(oz)

Tungsten

(t)

Calibre 0.5

AuEquivInferred 47.7 0.9 0.15 0.5 217 1,300,000 69,500 730,000 10,300

Magnum 0.5

AuEquivInferred 16.1 0.7 0.37 1 - 339,000 57,800 511,000 -

Calibre +

Magnum

DepositsTotal 63.8 0.8 0.2 0.6 161 1,639,000 127,300 1,241,000 10,300

North Telfer Project

Citadel Project (Rio Tinto JV)

MINERAL RESOURCE SUMMARY

16 ASX:AZY

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17

MINYARI DOME –Established high-grade open pittable resource

17 ASX:AZY

APPENDIX

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18

Chicken Ranch –Shallow High-Grade Gold Opportunity

50m

50m

18 ASX:AZY

APPENDIX

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19

Competent Persons Statement –Exploration Results

The information in this report that relates to the Exploration Results is extracted from the following:

Reports entitled various relating to Antipa’s Paterson Province projects created between 2 September 2011 and 19 February 2019,

including:

• Report entitled “Citadel Project – VTEM Electromagnetic Survey Extends Existing Magnum Target Area and Defines New

Generation of High Priority Targets” created on 2 September 2011;

• Report entitled “Citadel Project – Corker and Magnum Drilling Update” created on 13 June 2012;

• Report entitled “Citadel Project – Corker and Magnum Second Drilling Update” created on 2 July 2012;

• Report entitled “Citadel Project Drilling Update - Exploration Upside Expanded” created on 3 August 2012;

• Report entitled “Citadel Project Phase 2 Drilling Programme – Twin Success” created on 13 December 2012;

• Report entitled “Calibre and Magnum Mineral Resources JORC 2012 Updates” created on 23 February 2015;

• Report entitled “Calibre Deposit Drilling Update (No 1)” created on 18 June 2015;

• Report entitled “Calibre Deposit Drilling Update (No 2)” created on 02 July 2015;

• Report entitled “Calibre Deposit Drilling Update (No 3)” created on 10 July 2015;

• Report entitled “Calibre Deposit Drilling Update (No 4)” created on 28 July 2015;

• Report entitled “Calibre 2015 Phase 2 RC Drilling Update No. 3” created on 17 November 2015;

• Report entitled “Calibre 2015 Drilling Phase 2 Results” created on 16 December 2015;

• Report entitled “Rio Tinto – Antipa Citadel Project Joint Venture” created on 9 October 2015;

• Report entitled “High Grade Gold Mineralisation at Minyari Dome” created on 8 February 2016;

• Report entitled “Citadel Project Exploration Update” created on 15 March 2016;

• Report entitled “Citadel Project Commencement of IP Survey ” created on 24 March 2016;

• Report entitled “Minyari Drilling – May 2016 No.1” created on 2 May 2016;

• Report entitled “Minyari Phase – 2016 Phase 1 Drilling Programme Commences” created on 2 June 2016;

• Report entitled “Citadel Project IP Survey Identifies Multiple Chargeability Anomalies along 20km Calibre Trend” created on 24 June

2016;

• Report entitled “Minyari Reprocessed IP Survey Results” created on 5 July 2016;

• Report entitled “Minyari Drilling Update” created on 20 July 2016;

• Report entitled “Completion of Phase 1 Minyari Deposit RC Drilling Programme” created on 9 August 2016;

• Report entitled “Minyari Drilling Update No. 3” created on 17 August 2016;

• Report entitled “New Gold Opportunity – Tim’s Dome South” created on 22 September 2016;

• Report entitled “Minyari Drilling Update No. 4” created on 29 September 2016;

• Report entitled “Citadel Project Rio JV - Exploration Update RC Drilling Programme” created on 10 October 2016;

• Report entitled “Citadel Project Rio JV - RC Drilling Programme Commences” created on 28 October 2016;

• Report entitled “North Telfer Project – Phase 2 Exploration Programme Commences” created on 31 October 2016;

• Report entitled “North Telfer Project and Citadel Project – Phase 2 Exploration Programme Update” created on 16 November 2016;

• Report entitled “Antipa 100% Owned North Telfer Project Minyari Dome Drilling Update No. 1” created on 16 December 2016;

• Report entitled “Citadel Project – 2016 Phase 2 Drilling Programme Update No.2 – Drilling Identifies 4.8km Copper System at

Rimfire” created on 16 January 2017;

• Report entitled “Minyari Dome and Citadel - Phase 2 Update” created on 9 February 2017;

• Report entitled “Minyari Dome 2017 Exploration Programme” created on 27 March 2017;

• Report entitled “Citadel Project Rio Funded 2017 Exploration Programme” created on 12 April 2017;

• Report entitled “Rio Tinto Elects to Proceed to Stage 2 of Citadel Farm-In” created on 12 April 2017;

• Report entitled “Minyari Dome 2017 Exploration Programme Commences” created on 13 April 2017;

• Report entitled “Citadel Phase 1 Exploration Programme Commences” created on 13 June 2017;

• Report entitled “Minyari Dome Positive Metallurgical Test-work Results” created on 13 June 2017;

• Report entitled “Company Update June 2017” created on 13 June 2017;

• Report entitled “High –Grade Gold intersected at North Telfer Project” created on 21 June 2017;

• Report entitled “Drilling extends High-Grade Gold Mineralisation at WACA” created on 25 July 2017;

• Report entitled “Antipa Secure High –Grade Gold Chicken Ranch Deposit ” created on 2 August 2017;

• Report entitled “High-Grade Gold Mineralisation Strike Extensions at Minyari Deposit” created on 4 August 2017;

• Report entitled “Minyari Dome Phase 1 Final Assay Results – Further Drilling Commencing September” created on 31 August 2017;

• Report entitled “Citadel Project Exploration Update” created on 2 October 2017;

• Report entitled “North Telfer and Paterson Projects - Exploration Update” created on 16 October 2017;

• Report entitled “Citadel Project Exploration Update” created on 8 November 2017;

• Report entitled “Minyari/WACA Deposits Maiden Mineral Resources” created on 16 November 2017;

• Report entitled “Calibre Deposit Mineral Resource Update” created on 17 November 2017;

• Report entitled “Minyari/WACA Air Core Drill Results” created on 5 December 2017;

• Report entitled “Antipa Consolidates Paterson Province Position” created on 21 December 2017;

• Report entitled “Minyari Dome Air Core Drilling Results” created on 29 January 2018;

• Report entitled “Tim’s Dome Air Core Drilling Results” created on 31 January 2018;

• Report entitled “Citadel Project 2017 Exploration Update” created on 7 February 2018;

• Report entitled “RIU Explorer’s Conference Presentation” created on 22 February 2018;

• Report entitled “Citadel Project 2018 Exploration Programme” created on 27 March 2018;

• Report entitled “Antipa to Commence Major Exploration Programme” created on 1 June 2018;

• Report entitled “Major Exploration Programme Commences” created on 25 June 2018;

• Report entitled “2018 Exploration Programme Update” created on 16 July 2018;

• Report entitled “Minyari Dome – Initial Drill Results” created on 1 August 2018;

• Report entitled “2018-19 Exploration Programme Overview and Update - August” created on 15 August 2018;

• Report entitled “Minyari Dome Excellent Metallurgical Test-work Results” created on 27 August 2018;

• Report entitled “Rio Tinto Resumes Drilling at the Citadel Farm-in Project” created on 15 August 2018;

• Report entitled “Tims Dome IP Survey Identifies Multiple Gold-Copper Targets” created on 4 September 2018;

• Report entitled “Further High-grade Gold Mineralisation at Chicken Ranch” created on 15 September 2018;

• Report entitled “Thick High-grade Copper Mineralisation Intersected” created on 2 October 2018;

• Report entitled “Multiple High Grade Gold-Copper Targets Identified” created on 15 October 2018;

• Report entitled “Chicken Ranch and Minyari Dome Drilling Update” created on 15 November 2018;

• Report entitled “Citadel Project Rio Tinto Joint Venture Aerial Electromagnetic Survey to Identify Gold-Copper Targets” created on 20

November 2018;

• Report entitled “Expanded Greenfield Programme in Paterson Province Commences” created on 10 December 2018;

• Report entitled “Rio Tinto Farm-in Project 2018 Exploration Update” created on 11 December 2018;

• Report entitled “Resource Growth Potential and Additional Brownfields Targets” created on 11 December 2018;

• Report entitled “Greenfield Programme Identifies Havieron Lookalike Anomalies” created on 14 February 2019;

• Report entitled “Antipa to Commence Major Greenfields Exploration Programme” created on 18 February 2019; and

• Report entitled “RIU Explorers Conference Presentation Materials” created on 19 February 2019.

All of which are available to view on www.antipaminerals.com.au and www.asx.com.au. The Company confirms that it is not aware of any

new information or data that materially affects the information included in the original market announcements.

The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially

modified from the original market announcements.

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APPENDIX

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Competent Persons Statement –Exploration Results

Competent Persons Statement – Mineral Resource Estimations for the Minyari-WACA Deposits, Calibre Deposit and Magnum Deposit

The information in this report that relates to relates to the estimation and reporting of the Minyari-WACA deposits Mineral Resources is extracted from the report entitled “Minyari/WACA Deposits Maiden Mineral Resources” created on 16

February 2018, the Calibre deposit Mineral Resource information is extracted from the report entitled “Calibre Deposit Mineral Resource Update” created on 17 February 2018 and the Magnum deposit Mineral Resource information is

extracted from the report entitled “Calibre and Magnum Deposit Mineral Resource JORC 2012 Updates” created on 23 February 2015, both of which are available to view on www.antipaminerals.com.au and www.asx.com.au. The Company

confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are

presented have not been materially modified from the original market announcements.’

Gold Metal Equivalent Information

Magnum Mineral Resource AuEquiv cut-off grade – Gold Equivalent (AuEquiv) details of material factors and metal equivalent formula are reported in “Calibre and Magnum Mineral Resources JORC 2012 Updates” created on 23 February

2015 (http://antipaminerals.com.au/wp-content/uploads/2018/02/2015-02-23.pdf).

Calibre Mineral Resource AuEquiv cut-off grade – Gold Equivalent (AuEquiv) details of material factors and metal equivalent formula are reported in “Calibre Deposit Mineral Resource Update” created on 17 February 2018

(http://antipaminerals.com.au/wp-content/uploads/2017/12/Calibre-Deposit-Mineral-Resource-Update.pdf).

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APPENDIX

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